ACTIVITIES THAT REQUIRE A REAL ESTATE LICENSE OKLAHOMA REAL ESTATE COMMISSION Revised March 26, 2001 Adopted by Commission March 28, 2001 1. Paid a percentage or share of a commission. 2. Showing property. 3. Soliciting listings. Includes "For Sale By Owner," expired listings and all other personal contact forms of soliciting for listings. 4. Securing listings. Shall include: a. Listing presentation. b. As a single-party broker may provide assistance in pricing by presenting and interpreting Comparative Market Analysis (CMA). c. As a transaction broker may provide market information and data which may indicate value and may make a suggestion regarding value (but shall not be an advocate for either party). d. Prepare and present estimate of costs to seller. e. Negotiating with seller. f. Explaining the listing agreement. g. Obtaining the seller's signature. 5. Soliciting prospective purchasers. Includes all forms of personal contact soliciting. 6. Securing sales. Shall include: a. Interviewing purchasers. b. Assisting or working for the benefit of a purchaser. c. Showing property. d. Negotiating with purchaser. e. Preparing and presenting estimate of costs to purchaser. f. Preparing offer to purchase. g. Preparing purchase contracts. h. Presenting and/or explaining purchase contract. i. Obtaining signature of parties to contract. j. Presenting and negotiating offers and counteroffers to purchaser and/or seller. 7. Securing lease or rental agreements. Includes all activities named in activity #4 above, with regard to tenants. 8. Managing rental properties. Shall include: a. All personal contact forms of soliciting. b. Negotiating with tenant. c. Securing leases and/or rental agreements. d. Preparing documents and obtaining signatures.
ACTIVITIES THAT DO NOT REQUIRE A REAL ESTATE LICENSE All unlicensed activities are to be carried out under the supervision and direction of the broker/licensee. The broker/licensee is held strictly responsible for all activities of unlicensed assistants in the performance of their duties, whether listed or not. Sponsoring Brokers/Licensees will be held accountable for the acts of any unlicensed assistant who oversteps into licensed activities. Limited Related Activities 1. Gather information and prepare Comparative Market Analysis (CMA) form according to instructions from licensee. Clerical functions only; unlicensed assistant may not present or interpret information on the CMA form to seller or purchaser. 2. Check listing information for completeness. Licensee to verify accuracy. 3. Submit listing information and changes to Multiple Listing Service and/or other information sources. Licensee to verify accuracy. 4. Prepare "Net to Seller" sheets per instruction of licensee. May not present or interpret information to seller. Licensee to verify accuracy. 5. Write, design and place ads with approval of sponsoring broker. 6. Communicate with cooperative brokers/sales associates to set up showing appointments. 7. Unlock property to accommodate showing by cooperative broker/sales associate. May not discuss property or real estate related information with purchaser or seller or cooperative licensee. 8. Identify expired listings on computer. 9. Inspect and restock listing forms and resupply handouts on yard signs. 10. Place and pick up signs and sign riders. 11. Pick up keys; have keys made for listings. 12. Take pictures of homes. 13. Prepare listing packets as directed. 14. Mail pre-listing packets to seller. 15. Send ads to seller. 16. Place and remove lock boxes subject to Keyholder Agreement Rules. 17. Place and remove brochure boxes. Purchaser Related Activities 18. Prepare purchaser packets as directed. 19. Mail buyer packets prior to licensee's appointment with purchaser. 20. Shop financing by checking rates with lenders for specific buyers and communicate to licensee. 21. Schedule loan application appointments of purchaser's choice. 22. Arrange and coordinate showing appointments with cooperating brokers and sales associates on properties selected by licensee. 23. Prepare contract and related forms as directed by licensee. Applies only to clerical duties. Licensee must prepare or approve the content of forms. Closing Related Activities 24. Communicate with title companies, vendors and other ancillary service providers as instructed by licensee. 25. Order, pick up and deliver documents as directed by licensee. May not discuss the content, relevance, importance, or significance of documents. All documents and information delivered shall be approved by licensee prior to delivery. 26. Follow up on loan commitments, coordinate loan processing and secure status reports. 27. Coordinate "move-in" day after closing. 28. Order items of routine repair as approved and selected by seller or purchaser and as directed by licensee. 29. Order and coordinate inspections as approved and selected by seller or purchaser and as directed by licensee. May not discuss any matter relating to property with inspector. May meet inspector and/or unlock property for inspection; receive and provide inspection report to licensee. May not communicate, explain or interpret inspection report/information to purchaser or seller. 30. Order and coordinate appraisal as approved and selected by seller or purchaser and as directed by licensee. May meet appraiser and/or unlock property for inspection; receive and provide appraisal report to licensee. May not communicate, explain or interpret appraisal report/information to purchaser or seller. 31. Assemble documents for closing. Business Development/Personal Marketing Activities 32. Deliver mail, flyers, door-hangers or other promotional material. May not engage in any conversation or personal contact soliciting for listings, purchasers or tenants/leases. 33. Develop and maintain mailing lists and/or database. 34. Coordinate administrative details for public informational seminars. May not engage in personal contact soliciting for listings, purchasers or tenants/leases. 35. Only hand out pre-printed brochures and materials prepared as approved by licensee at kiosks, home shows, or booths at state/county fair. May not engage in discussion or solicitation of any real estate matters. 36. Write and prepare newsletters at direction and approval of sponsoring broker. 37. Prepare materials and coordinate direct mail campaigns at direction of licensee and approval of sponsoring broker. Property Management Activities 38. Accept rent and provide receipt. 39. Place routine telephone calls regarding late payments; may not make payment arrangements; refer caller to licensee. 40. Prepare rental/lease agreements and related forms. Applies to clerical duties only, i.e., typing forms prepared or approved by licensee. May not discuss lease arrangements, present or explain forms, negotiate terms or obtain signatures. 41. Accept and place calls regarding routine maintenance items as instructed by licensee. General Administrative Activities 42. Answer telephone, forward calls, take messages, and make appointments for licensee on transaction commitments, or incoming calls from prospects. 43. Operate computer for record keeping, word processing, or to input and/or obtain information for licensee. 44. Provide personal bookkeeping and/or accounting for licensee. 45. Pay personal bills of licensee. 46. Maintain past purchaser and seller list. 47. Scan and clip news. 48. Record and deposit money to be placed in escrow at direction of sponsoring broker.
49. Monitor license and personnel files. 50. Issue commission checks at the direction of sponsoring broker. 51. Purchase supplies. 52. Make bank deposits. 53. Maintain files and records. |